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WASHINGTON, May 27 (Xinhua) -- The U.S. Treasury Department said in a report released on Friday that China was not manipulating its currency."In China, since the authorities decided in June 2010 to allow the exchange rate to appreciate in response to market forces, the renminbi (RMB) has appreciated by a total of 5.1 percent against the dollar in nominal terms through the end of April 2011, or at an annual pace of approximately 6.0 percent," noted the semi- annual report on international economic and exchange rate policies.The Treasury said that as inflation in China is significantly higher than it is in the United States, the renminbi has appreciated more rapidly against the dollar on a real, inflation- adjusted basis, at a rate of around 9 percent per year.The delayed report, which was originally scheduled to be sent to the Congress on April 15, finds "no major trading partner of the United States" manipulated its currency during the period covered in the report.The Treasury added that it will continue to "closely monitor" the renminbi appreciation pace.The report also noted that the U.S. economy is recovering from its deepest recession in the post-war period."While recent growth is encouraging, the economy still faces significant challenges," said the report. The number one challenge is still in the labor market.The U.S. unemployment rate, currently at 9.0 percent, is not expected to fall significantly this year.Besides, housing market and long-term fiscal position are " unsustainable," according to the report.In recent remarks, Treasury Secretary Timothy Geithner stated that China is the fastest growing market for U.S. exports. In 2010, U.S. exports to China grew at a pace that was 50 percent higher than the rest of the world.

SAN FRANCISCO, March 7 (Xinhua) -- The world's leading hard rive producer Western Digital Corp. on Monday announced that it has agreed to buy Hitachi Ltd.'s hard disk drive unit for about 4. 3 billion U.S. dollars, a move that will create a dominant player in the industry.Western Digital said that it plans to acquire Hitachi Global Storage Technologies, a wholly-owned subsidiary of Hitachi Ltd., in cash and stock.The proposed combination will result in a customer-focused storage company with the industry's broadest product lineup backed by a rich technology portfolio, Western Digital said.According to their agreement, the resulting company will retain the Western Digital name and remain headquartered in Irvine in the U.S. state of California.The transaction has been approved by the board of directors of each company and is expected to close during the third quarter of 2011.With the purchase, Western Digital will claim 49.6 percent share of global hard disk drive unit shipments based on latest quarterly statistics, compared to 29.4 percent for Seagate Technology LLC, the industry's No. 2 supplier, research firm iSuppli pointed out.The deal will give Western Digital a lead of 20.2 percentage points over Seagate, up from a mere 2 points without the acquisition, iSuppli said in a research note released Monday.The acquisition will also allow Western Digital to enter the critical enterprise hard disk drive segment, where it currently is only a marginal player.Analysts believed that the purchase might be a consequence of declining hard disk drive shipments, which are being impacted by the rising sales of tablet computers, which don't use hard disk drives and are cutting into the sales of mobile PCs, a major market for hard drives."Amid weaker industry conditions, organic sales growth is more difficult to achieve, prompting hard disk drive suppliers to engage in acquisitions to gain market share," iSuppli noted.
SAN FRANCISCO, April 5 (Xinhua) -- Apple Inc.'s iPad 2 has topped the ratings by Consumer Reports, an influential U.S. magazine for product reviews, in the latest tests of the 10 most- promising tablet computers.According to the ratings released on Tuesday, the Apple iPad 2 with Wi-Fi plus 3G (32G), which is priced at 730 U.S. dollars, topped the ratings, scoring "excellent" in nearly every category.Besides several models from Apple, other brands tested include Archos, Dell, Motorola, Samsung and Viewsonic. Each tablet was evaluated on 17 criteria, including touch-screen responsiveness, versatility, portability, screen glare and ease of use."So far, Apple is leading the tablet market in both quality and price, which is unusual for a company whose products are usually premium priced," Paul Reynolds, electronics editor at Consumer Reports, said in a statement.The Motorola Xoom, whose price is 800 dollars, stood out as the iPad 2's main rival. It boasts several features that the iPad lacks, including a built-in memory card reader and support for the Flash videos.The first-generation iPad, priced at 580 dollars, also outscored many of the other models tested but tied with the Motorola Xoom, according to tests by Consumer Reports.
来源:资阳报